Common use of Revenue Fund Clause in Contracts

Revenue Fund. The Trustee and any Deposit Agent shall credit to the Revenue Fund: (i) all amounts received as interest, including federal interest subsidy payments, and principal payments with respect to Financed Student Loans, including all Guarantee payments and Special Allowance Payments with respect to Financed Student Loans (excluding, unless otherwise provided in a Supplemental Indenture, any federal interest subsidy payments and Special Allowance Payments that accrued prior to the date on which such Student Loans were Financed), (ii) unless otherwise provided in a Supplemental Indenture, proceeds of the resale to a Lender or SLFC of any Financed Student Loans pursuant to such Lender's or SLFC's repurchase obligation under the applicable Student Loan Purchase Agreement, (iii) all amounts received as earnings on or income from Investment Securities in the Acquisition Fund, the Reserve Fund, the Administration Fund, the Surplus Fund and the Note Fund, (iv) all Non-Delivery Fees, (v) all amounts to be transferred to the Revenue Fund from the Indemnification Fund, (vi) any amounts received by the Trustee pursuant to the indemnification provisions of any Joint Sharing Agreement, and (vii) all amounts to be transferred to the Revenue Fund from the Alternative Loan Guarantee Fund. Pending transfers from the Revenue Fund, the moneys therein shall be invested in Investment Securities as provided in Section 4.11 hereof, and any earnings on or income from said investments shall be retained therein. The Corporation shall cause all amounts required to be credited to the Revenue Fund, upon receipt by the Corporation, a Lender, SLFC, a Transferor or a Servicer, or any agent thereof, as the case may be, to be forthwith transmitted to the Trustee or any Deposit Agent therefor for such credit. On each Monthly Payment Date and on any other date on which the Balance in the Note Fund is not sufficient to pay all amounts payable therefrom on such date, all such moneys theretofore received and then held by a Deposit Agent shall be transferred to the Trustee. The Trustee shall deposit and credit all revenues to be credited to the Revenue Fund as follows: all such revenues received as payments of or in respect of principal of Financed Student Loans shall be credited by the Trustee forthwith upon receipt to the Repayment Account; and all other revenues and amounts, including all such revenues received as payments of or in respect of interest on or Special Allowance Payments with respect to Financed Student Loans, income from Investment Securities and Non-Delivery Fees, shall be credited by the Trustee forthwith upon receipt to the Income Account. On each Monthly Payment Date and on any other date on which the Balance in the Note Fund is not sufficient to pay all amounts payable therefrom on such date, the Trustee shall, from the moneys received since the preceding Monthly Payment Date in the Repayment Account, (1) make any periodic rebate fee payments required to be made to the Secretary of Education in connection with Financed Student Loans, and (2) transfer the remainder of such moneys, as follows:

Revenue Fund. The Trustee and any Deposit Agent shall ------------ credit to the Revenue Fund: (i) all amounts received as interest, including federal interest subsidy payments, and principal payments with respect to Financed Student Loans, including all Guarantee Insurance payments and Guarantee payments, and all Special Allowance Payments with respect to Financed Student Loans (excluding, unless otherwise provided in a Supplemental Indenture, any federal interest subsidy payments and Special Allowance Payments that accrued prior to the date on which such Student Loans were Financed), (ii) unless otherwise provided in a Supplemental Indenture, proceeds of the resale to a Lender or SLFC of any Financed Student Loans pursuant to such Lender's or SLFC's repurchase obligation under the applicable Student Loan Purchase Agreement, (iii) all amounts received as earnings on or income from Investment Securities in the Acquisition Fund, the Reserve Fund, the Administration Fund, the Surplus Fund and the Note Fund, (iv) all Non-Delivery Fees, (v) all amounts to be transferred to the Revenue Fund from the Indemnification Rebate Fund, and (vi) any amounts received by the Trustee pursuant to the indemnification provisions of any Joint Sharing Agreement, and (vii) all amounts to be transferred to the Revenue Fund from the Alternative Loan Guarantee Fund. Pending transfers from the Revenue Fund, the moneys therein shall be invested in Investment Securities as provided in Section 4.11 hereof, and any earnings on or income from said investments shall be retained therein. The Corporation shall cause all amounts required to be credited to the Revenue Fund, upon receipt by the Corporation, a Lender, SLFC, a Transferor Lender or a Servicer, or any agent thereof, as the case may be, to be forthwith transmitted to the Trustee or any Deposit Agent therefor for such credit. On each Monthly Payment Date and on any other date on which the Balance in the Note Fund is not sufficient to pay all amounts payable therefrom on such date, all such moneys theretofore received and then held by a Deposit Agent shall be transferred to the Trustee. The Trustee shall deposit and credit all revenues to be credited to the Revenue Fund as follows: all such revenues received as payments of or in respect of principal of Financed Student Loans shall be credited by the Trustee forthwith upon receipt to the Repayment Account; and all other revenues and amounts, including all such revenues received as payments of or in respect of interest on or Special Allowance Payments with respect to Financed Student Loans, income from Investment Securities and Non-Non- Delivery Fees, shall be credited by the Trustee forthwith upon receipt to the Income Account. On each Monthly Payment Date and on any other date on which the Balance in the Note Fund is not sufficient to pay all amounts payable therefrom on such date, the Trustee shall, from the moneys received since the preceding Monthly Payment Date in the Repayment Account, (1) make any periodic rebate fee payments required to be made to the Secretary of Education in connection with Financed Student Loans, and (2) transfer the remainder of such moneys, as follows:

Revenue Fund. The Trustee and any Deposit Agent shall credit to deposit into the Revenue Fund: Fund (ia) all amounts received as interest, including federal interest subsidy payments, and principal payments with respect to Financed Student Loans, including all Guarantee payments and Special Allowance Payments with respect to Financed Student Loans (excluding, unless otherwise provided in a Supplemental Indenture, any federal interest subsidy payments and Special Allowance Payments that accrued prior to the date on which such Student Loans were Financed), (ii) unless otherwise provided in a Supplemental Indenture, proceeds of the resale to a Lender or SLFC of any Financed Student Loans pursuant to such Lender's or SLFC's repurchase obligation under the applicable Student Loan Purchase Agreement, (iii) all amounts received as earnings on or income from Investment Securities in the Acquisition Fund, the Reserve Fund, the Administration Fund, the Surplus Fund and the Note Fund, (iv) all Non-Delivery Fees, (v) all amounts required to be transferred to the Revenue Fund from the Indemnification Student Loan Holding Fund, (vi) any amounts received by the Trustee pursuant to the indemnification provisions of any Joint Sharing Agreement, and (viib) all amounts to be transferred to designated in Sections 2.10(a)(iv) and 2.10(b)(iv) hereof and (c) all Counterparty Swap Payments. Upon Issuer Order directing the same, moneys in the Revenue Fund from shall be used, on any date, to pay fees and expenses of the Alternative Loan Guarantee FundServicer when due under the Servicing Agreement insofar as the same relate to the Financed Eligible Loans, to pay Trustee fees and expenses incurred under this Indenture and the Custodian Agreement, to pay Auction Agent fees and expenses incurred under the Auction Agent Agreement, to pay Broker-Dealer fees and expenses incurred under any Broker-Dealer Agreement, to pay the Calculation Agent fees and expenses incurred hereunder, to pay fees and expenses of the Rating Agencies incurred hereunder, and other fees, taxes, including taxes related to the Issuer's income, and expenses with respect to the Trust Estate but not included as Maintenance and Operating Expenses. Pending transfers from Payments made in satisfaction of the fees and expenses described in the preceding sentence, other than taxes related to the Issuer's income and fees and expenses of the Servicer, shall not exceed the estimate of such fees and expenses described in Exhibit E-2 attached hereto until January 1, 1999, unless otherwise approved by each Rating Agency and on and after January 1, 1999, an annual amount not to exceed such estimated fees and expenses described in a Cash Flow Certificate to be approved by each Rating Agency for a period approved by each Rating Agency. Moneys in the Revenue FundFund shall also be used, on any date, to pay Maintenance and Operating Expenses in excess of the moneys therein shall be invested in Investment Securities as provided in Section 4.11 hereof, and any earnings on or income from said investments shall be retained therein. The Corporation shall cause all amounts required to be credited to the Revenue FundEstimated Amount, upon receipt by the Corporation, a Lender, SLFC, a Transferor or a Servicer, or any agent thereof, as the case may be, to be forthwith transmitted Issuer Order delivered to the Trustee or any Deposit Agent therefor for such credit. On and each Monthly Payment Date and on any other date on which Rating Agency directing the Balance in the Note Fund is not sufficient to pay all amounts payable therefrom on such datesame, all such moneys theretofore received and then held by but only following delivery of a Deposit Agent shall be transferred Cash Flow Certificate to the TrusteeTrustee and each Rating Agency showing, among other things, that the payments required by this Section, other than Sections 5.03(k) through 5.03(l) hereof, will not be impaired and such amount has been approved by each Rating Agency. The Trustee shall deposit and credit all revenues to be credited to Money in the Revenue Fund as follows: all such revenues received as payments of or in respect of principal of Financed Student Loans shall be credited by the Trustee forthwith upon receipt to the Repayment Account; kept separate and apart from all other revenues Funds and amounts, including all such revenues received as payments of or in respect of interest on or Special Allowance Payments with respect to Financed Student Loans, income from Investment Securities and Non-Delivery Fees, shall be credited by used and transferred to (i) the Trustee forthwith upon receipt to Interest Fund on the Income Account. On first Business Day preceding each Monthly Interest Payment Date (other than a Transfer Date) as specified in (w), (x) and (y) below and (ii) the Operating Fund on any other date on which the Balance first Business Day of each month as specified in (z) below, all in the Note Fund is following order of precedence (any money not sufficient so transferred or paid to pay all amounts payable therefrom on such date, the Trustee shall, from the moneys received since the preceding Monthly Payment Date remain in the Repayment Account, (1) make any periodic rebate fee payments required Revenue Fund until subsequently applied pursuant to be made to the Secretary of Education in connection with Financed Student Loans, and (2) transfer the remainder of such moneys, as follows:this Section):

Revenue Fund. The Trustee and any Deposit Agent shall credit to the Revenue Fund: (i) all amounts received as interest, including federal interest subsidy payments, and principal payments with respect to Financed Student Loans, including all Guarantee Insurance payments and Guarantee payments, and all Special Allowance Payments with respect to Financed Student Loans (excluding, unless otherwise provided in a Supplemental Indenture, any federal interest subsidy payments and Special Allowance Payments that accrued prior to the date on which such Student Loans were Financed), (ii) unless otherwise provided in a Supplemental Indenture, proceeds of the resale to a Lender or SLFC of any Financed Student Loans pursuant to such Lender's or SLFC's repurchase obligation under the applicable Student Loan Purchase Agreement, (iii) all amounts received as earnings on or income from Investment Securities in the Acquisition Fund, the Reserve Fund, the Administration Fund, the Surplus Fund and the Note Fund, (iv) all Non-Delivery Fees, (v) all amounts to be transferred to the Revenue Fund from the Indemnification Rebate Fund, and (vi) any amounts received by the Trustee pursuant to the indemnification provisions of any Joint Sharing Agreement, and (vii) all amounts to be transferred to the Revenue Fund from the Alternative Loan Guarantee Fund. Pending transfers from the Revenue Fund, the moneys therein shall be invested in Investment Securities as provided in Section 4.11 hereof, and any earnings on or income from said investments shall be retained therein. The Corporation shall cause all amounts required to be credited to the Revenue Fund, upon receipt by the Corporation, a Lender, SLFC, a Transferor Lender or a Servicer, or any agent thereof, as the case may be, to be forthwith transmitted to the Trustee or any Deposit Agent therefor for such credit. On each Monthly Payment Date and on any other 4-13 date on which the Balance in the Note Fund is not sufficient to pay all amounts payable therefrom on such date, all such moneys theretofore received and then held by a Deposit Agent shall be transferred to the Trustee. The Trustee shall deposit and credit all revenues to be credited to the Revenue Fund as follows: all such revenues received as payments of or in respect of principal of Financed Student Loans shall be credited by the Trustee forthwith upon receipt to the Repayment Account; and all other revenues and amounts, including all such revenues received as payments of or in respect of interest on or Special Allowance Payments with respect to Financed Student Loans, income from Investment Securities and Non-Delivery Fees, shall be credited by the Trustee forthwith upon receipt to the Income Account. On each Monthly Payment Date and on any other date on which the Balance in the Note Fund is not sufficient to pay all amounts payable therefrom on such date, the Trustee shall, from the moneys received since the preceding Monthly Payment Date in the Repayment Account, (1) make any periodic rebate fee payments required to be made to the Secretary of Education in connection with Financed Student Loans, and (2) transfer the remainder of such moneys, as follows:

Revenue Fund. The Trustee and any Deposit Agent shall credit to the Revenue Fund: (i) all amounts received as interest, including federal interest subsidy payments, and principal payments with respect to Financed Student Loans, including all Guarantee payments and Special Allowance Payments with respect to Financed Student Loans (excluding, unless otherwise provided in a Supplemental Indenture, any federal interest subsidy payments and Special Allowance Payments that accrued prior to the date on which such Student Loans were Financed), (ii) unless otherwise provided in a Supplemental Indenture, proceeds of the resale to a Lender or SLFC of any Financed Student Loans pursuant to such Lender's or SLFC's repurchase obligation under the applicable Student Loan Purchase Agreement, (iii) all amounts received as earnings on or income from Investment Securities in the Acquisition Fund, the Reserve Fund, the Administration Fund, the Surplus Fund and the Note Fund, (iv) all Non-Delivery Fees, (v) all amounts to be transferred to the Revenue Fund from the Indemnification Fund, (vi) any amounts received by the Trustee pursuant to the indemnification provisions of any Joint Sharing Agreement, and (vii) all amounts to be transferred to the Revenue Fund from the Alternative Loan Guarantee Fund. Pending transfers from the Revenue Fund, the moneys therein shall be invested in Investment Securities as provided in Section 4.11 hereof, and any earnings on or income from said investments shall be retained therein. The Corporation shall cause all amounts required to be credited to the Revenue Fund, upon receipt by the Corporation, a Lender, SLFC, a Transferor or a Servicer, or any agent thereof, as the case may be, to be forthwith transmitted to the Trustee or any Deposit Agent therefor for such credit. On each Monthly Payment Date and on any other date on which the Balance in the Note Fund is not sufficient to pay all amounts payable therefrom on such date, all such moneys theretofore received and then held by a Deposit Agent shall be transferred to the Trustee. The Trustee shall deposit and credit all revenues to be credited to the Revenue Fund as follows: all such revenues received as payments of or in respect of principal of Financed Student Loans shall be credited by the Trustee forthwith upon receipt to the Repayment Account; and all other revenues and amounts, including all such revenues received as payments of or in respect of interest on or Special Allowance Payments with respect to Financed Student Loans, income from Investment Securities and Non-Delivery Fees, shall be credited by the Trustee forthwith upon receipt to the Income Account. On each Monthly Payment Date and on any other date on which the Balance in the Note Fund is not sufficient to pay all amounts payable therefrom on such date, the Trustee shall, from the moneys received since the preceding Monthly Payment Date in the Repayment Account, (1) make any periodic rebate fee payments required to be made to the Secretary of Education in connection with Financed Student Loans, and (2) transfer the remainder of such moneys, as follows:all